Wildfires have had a devastating impact on communities across BC in recent years. This year’s wildfire season has already begun and, as a REALTOR®, you can help protect your clients by reminding them of the importance of home insurance, both year-round and when buying or selling a home. If your client is buying a home, …
Sadly, it seems that in addition to spring, summer, fall and winter, BC now has a fifth season: wildfire season. What’s worse is that this year the wildfire season has gotten off to an early start, making it more important than ever for REALTORS® to help clients manage wildfire risks. While there are some things …
Annual widespread wildfires and flooding have unfortunately become a regular occurrence in BC. In 2022, the province recorded more than 1,758wildfires that burned more than 133,437 hectares. Sixty per cent of the wildfires occurred naturally. Meanwhile, extreme weather and mass flooding devastated communities and hundreds of homes across the province. There is no doubt …
Mental health is an essential component of our daily lives. Yet, it is still overlooked and stigmatized in society. Many individuals are afraid to seek help or speak up about their struggles with mental illness due to the fear of judgment and discrimination. Those struggles can come from diverse places, not only from the professional …
Real estate professionals face unique problems and challenges in their everyday practice, from the uncertain housing market landscape, long work hours, and other stressors, each taking a toll on their mental and physical health. According to the findings of the survey on COVID-19 and mental health from the Centre for Addiction and Mental Health, one …
When listing or selling a property, REALTORS® need a basic understanding of site contamination and its potential impact on property transactions. This can include identifying potential sources of contamination, understanding the implications of contamination on property value and potential liabilities, and providing essential advice to clients on how to address and mitigate contamination risks. What …
Recent reports of home title and mortgage fraud cases in Ontario have raised questions about what real estate professionals across Canada can do to help protect their clients from similar fraud attempts. On January 5, 2023, law enforcement officers in Toronto warned the public of two fraudsters who impersonated the owners of an Etobicoke-area home …
The 2023 BC Property Assessments are now available online through BC Assessment, and homeowners can now check theirs on the website and expect to receive their notices in the mail by the end of January 2023. REALTORS® are often a valuable source of information for both buyers and sellers in helping them understand tax …
With the Home Buyer Rescission Period (HBRP) coming into effect on January 3, 2023, BCREA has created a video for REALTORS® to share with their clients to help them understand buyer’s rights during the HBRP. [iframe width=”560″ height=”315″ src=”https://www.youtube.com/embed/T3Q6U3PtokI” frameborder=”0″ allowfullscreen style=”position:absolute;top:0;left:0;width:100%;height:100%;”][/iframe] This video will provide an overview of the HBRP and go over how …
The Home Buyer Rescission Period (HBRP) will come into effect on January 3, 2023. Under this new regulation, some buyers for some residential properties will have three clear business days to change their mind, for any reason, and walk away from an accepted Contract of Purchase and Sale. It’s important for REALTORS® working with buyers …
Radon gas isn’t a new issue for REALTORS®, but during this time of the year it gains importance as fall and winter are the ideal seasons to test for radon. Understanding and helping mitigate radon risks is more than just a professional responsibility for REALTORS®, it’s also an opportunity to provide clients with valuable information …
Radon, a naturally occurring odourless and colourless radioactive gas, may be out of sight but it certainly shouldn’t be out of mind when it comes to real estate transactions. In fact, radon is present at different concentrations (depending on the makeup of bedrock or sediment) throughout Canada. If radon levels are too high in a …
With most of our business being conducted online, REALTORS® and managing brokers must be aware of good cybersecurity practices. Ensuring your digital accounts are secure online prevents hackers from obtaining not just your sensitive information, but also private client information. In a recent Community of Practice for Managing Brokers session, BCREA Technology Manager, Mairon Batista, …
The Land Title and Survey Authority of British Columbia (LTSA) has announced that it will be increasing service fees as of April 1, 2022. According to LTSA, the net increase will be 1.4% to the overall customer fee. To view the current and projected fees, click here. LTSA says that it uses revenue from fee …
On January 7, BC’s Provincial Health Officer announced that employers are required to re-activate their COVID-19 Safety Plans. To ensure the safety of REALTORS®, managing brokers and their clients, we recommend brokerages update and re-activate their COVID-19 Safety Plan after reviewing the updated Work Safe BC COVID-19 Safety Plan template. BCREA will continue to update …
UPDATE – December 22, 2021 – This blog post was updated to reflect the revised orders and restrictions announced by the Provincial Health Officer on December 21, 2021. With the number of new COVID-19 cases rising as a result of the omicron variant, BC’s Provincial Health Officer (PHO) Dr. Bonnie Henry announced new public health …
The Land Owner Transparency Registry (LOTR) filing deadline has been extended to November 30, 2022, without incurring penalties. This extension gives reporting bodies with interests in land more time to file a transparency report. According to the BC government, they “heard from legal professionals in BC that pre-existing owners need more time to gather information about ownership and prepare to file with the registry.” …
The British Columbia Real Estate Association (BCREA) recommends REALTORS® and your clients once again wear masks while conducting open houses and private showings as a result of rising COVID-19 case numbers and the BC government’s recent announcement that beginning August 25, people 12 and older – both vaccinated and unvaccinated – will be required to wear a mask in indoor public spaces. The government also announced that proof of vaccination through a …
On August 1, 2021, the BC Financial Services Authority (BCFSA) became the new regulator for real estate service providers in BC. That means the Real Estate Council of BC (RECBC) and the Office of the Superintendent of Real Estate (OSRE) no longer exist. BCREA recently published a blog post with a video explaining the change in regulators and a series of resources …
As a result of the integration of the Real Estate Council of BC (RECBC) and Office of the Superintendent of Real Estate (OSRE) into the BC Financial Services Authority (BCFSA) on August 1, the Real Estate Rules, now named the Real Estate Services Rules, have been revised. The changes take effect immediately. With RECBC and …
On July 28, 2021, the BC Government and Interior Health announced new health measures in the central Okanagan aimed at containing a COVID-19 outbreak in the area. REALTORS® are encouraged to review the measures announced and act accordingly, putting the safety of clients and their communities first. Included in these new measures is a mandatory …
As of July 1, brokerages and REALTORS® should follow WorkSafeBC’s Communicable Diseases Prevention guidelines. June 30, 2021 – With British Columbians set to enter Step 3 of the province’s Restart Plan on July 1, the Real Estate Council of BC (RECBC), the Office of the Superintendent of Real Estate (OSRE) and the British Columbia Real …
With vaccine numbers rising and infection rates continuing to fall, BC is on track to move to step 2 of BC’s Restart Plan as of June 15 and all of us are eager for further easing of COVID-19 restrictions. However, REALTORS® and consumers will have to be patient a little longer when it comes to …
On June 2, BCREA hosted a free one-hour webinar to help REALTORS® and brokerages understand the new regulatory amendments introduced by the Financial Transactions & Reports Analysis Centre of Canada (FINTRAC) on June 1. Thank you to the over 4,400 Realtors who attended! If you attended the full live session, please allow up to two …
By: Adam Feldman, CAMS, CAMS-RM, CSC, Guest Contributor The rise of virtual currency If you’ve followed the news lately, you’ve probably noticed the increased prominence that virtual currencies are gaining on the global financial landscape. A 2019 study estimated that 9% of the global population owns Bitcoin, while British Columbia alone is home to 229 …
In case you haven’t heard, the Financial Transactions & Reports Analysis Centre of Canada (FINTRAC) has introduced new and revised regulatory requirements that come into effect on June 1, 2021, that will impact your real estate practice and anti-money laundering obligations. To ensure you’re ready for these changes, BCREA has created a series of short …
By: Adam Feldman, CAMS, CAMS-RM, CSC, Guest Contributor If you remember last week’s post, starting on June 1, 2021, brokerages will need to determine if an individual with whom they are dealing is a politically exposed person (PEP). A PEP is an individual who holds a senior position in a government, military, judiciary or international …
Updated on May 12, 2021, to reflect that the Land Owner Transparency Registry is now publicly searchable. The Land Owner Transparency Registry, or LOTR, is a publicly accessible registry of information about individuals who have an indirect interest in land that is held through corporations, trusts and partnerships. Here are ten things REALTORS® can learn …
By: Adam Feldman, CAMS, CAMS-RM, CSC, Guest Contributor What is a PEP? If you’ve been following the regulatory changes that are coming into effect on June 1, 2021, you might be aware that, under circumstances described in the next section, brokerages will be required to determine if an individual is a PEP. But what is …
FINTRAC: What’s Changed Using LOTR Last updated: June 1, 2021 Overview New and revised regulatory amendments from the Financial Transactions & Reports Analysis Centre of Canada (FINTRAC) are now in effect and BCREA has created this resource page to help REALTORS® and brokerages understand their new FINTRAC obligations and how to use BC’s Land Owner Transparency …
Update: This post was updated on May 5, 2021 after a review of suggested protocols. REALTORS® are encouraged to read the updated version below. Selling a tenant-occupied property is always more complicated than selling an owner-occupied property. Selling a tenant-occupied property during a global pandemic adds another layer of complexity. As a REALTOR®, you have …
Update: This post and the Safer Showings documents referenced below were updated on May 5, 2021 to align with Provincial Health Officer orders and directives up to and including April 2021. Real estate professionals must continue to adapt to protect themselves, consumers and communities from COVID-19. While provincial restrictions do not directly impact REALTORS® ability …
By Adam Feldman, CAMS, CAMS-RM, CSC, Guest Contributor What is a beneficial owner, and why do I need to know? A beneficial owner is defined in Canadian federal anti-money laundering regulations as an individual who owns or controls 25% or more of an entity. This could be through direct ownership or ownership of another entity. For …
The Land Owner Transparency Registry (LOTR) becomes publicly searchable on April 30 and guidance from the Real Estate Council of BC (RECBC) on how to use LOTR in real estate practice is coming soon. BCREA will support brokerages and REALTORS® in adapting their practice in accordance to the RECBC guidance once it’s available. In the …
By Adam Feldman, CAMS, CAMS-RM, CSC, Guest Contributor Brokerages have been required to conduct ongoing monitoring of their business relationships ever since the concept was introduced into regulation in 2014. At that time, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) clarified that a business relationship is established if a brokerage conducts two …
On Friday, April 9th, the Real Estate Council of BC (RECBC) and the Office of the Superintendent of Real Estate (OSRE) released a press statement encouraging British Columbians to be aware of the potential risks and do their research before making an offer on a home. In the release, RECBC’s Chief Executive Officer Erin Seeley …
With interest rates at record lows and not enough available housing stock to meet demand, buyers are willing to take risks to clinch a deal. Still, as a REALTOR®, they look to you for information on managing those risks. As you work in your client’s best interest, in advising them don’t forget to manage your …
BCREA has added a session of our Managing Broker Community of Practice on March 31, 2021 at 10:00am to address the current conditions of BC’s housing market. The session will explore some of the emerging trends resulting from the state of the housing market, including multiple and subject-free offers, as well as offer guidance for …
If being in the midst of a global pandemic wasn’t enough, with BC’s historically busy housing market, REALTORS® are operating under extenuating circumstances and are faced with balancing health and safety with serving their clients best interests. As a result of COVID-19, you have adapted your practices to ensure your clients and the community at …
In February’s episode of Open House by BCREA, our monthly podcast for REALTORS®, host Tony Joe and his guests – former Real Estate Board of Greater Vancouver President and current Vancouver-area Realtor Phil Moore, and lawyer Brian Taylor – explore some of the challenges and opportunities of working in a historically busy market during COVID-19. …
UPDATE (January 14, 2021): As the spread of COVID-19 continues to be a concern, restrictions from the Provincial Health Officer (PHO) on social gatherings and non-essential travel, and a requirement for masks in public indoor spaces are still in effect until at least February 5, 2021. Updated guidance on safer showings from BCREA, the Real …
With more than 1.5 million British Columbians living in strata housing, not to mention all the commercial, industrial and mixed-use stratas in BC, it’s important that REALTORS® understand a key tool in assessing the condition of a strata property: the depreciation report. Here’s a quick primer on what you need to know and how to learn more.
Last updated: July 1, 2021 The provincial state of emergency that was in place for more than a year has now been lifted. For British Columbians, this means unlimited indoor and outdoor personal gatherings, an end to mask mandates and the freedom to travel within Canada. For REALTORS®, this means the option to return to …
The second half of 2020 has been a busy time for real estate transactions, which has resulted in an increase in conveyancing. To help control the spread of COVID-19, it remains paramount to continue using technology to reduce in-person contact during all aspects of a transaction, including conveyancing. In dealing with the consequences of the …
The Land Owner Transparency Act (LOTA) and the Land Owner Transparency Registry (LOTR) come into effect on November 30, 2020, and that means REALTORS® should prepare for changes to practice when completing a transaction to allow for the new reporting requirements outlined by LOTA. The following resources will help Realtors get up to speed and …
On November 30, the Land Owner Transparency Act (LOTA) and Land Owner Transparency Registry (LOTR) will come into effect. With them come new reporting requirements, filed by legal professionals, when an application is made to register an interest in land. To help REALTORS® and your clients get ready for LOTA and LOTR, here are three …
With new health orders announced by the Provincial Health Officer (PHO) on November 19, BCREA encourages REALTORS® to continue COVID-19-conscious business practices, which includes using virtual tools when possible, to market, show, and view properties to help slow the spread of COVID-19. The PHO’s recent announcement and order extends the ban on social interactions and …
BCREA would like to remind REALTORS® to continue to use virtual tools when possible to market, show and view properties, to limit face-to-face interactions, and to follow the safer showings guidelines released last week. While the order issued by the Provincial Health Officer (PHO) on November 7 limiting social interactions and travel in the Lower …
The COVID-19 FAQ was last updated on November 12, 2020. As the spread of COVID-19 continues to be a health risk and have a significant impact on people’s lives, REALTORS® may be left with questions about how to deal with certain areas of their practice. BCREA seeks to support you in these unprecedented times. We …
The Land Owner Transparency Act (LOTA) and the Land Owner Transparency Registry (LOTR) come into effect on November 30, 2020, and that means REALTORS® should prepare for changes to practice when completing a transaction to allow for the new reporting requirements outlined by LOTA. How does this affect your practice? Beginning on November 30, 2020, …
In the coming years, new homes in BC are about to get measurably healthier, quieter, more durable, and more energy efficient than those on the resale market, thanks to a regulation called the BC Energy Step Code. BCREA is collaborating with BC Hydro and the Real Estate Foundation of BC to ensure REALTORS® understand the …
Filing a Suspicious Transaction Report (STR) can seem like a tough call – what’s considered suspicious? And how do they help anyways? The truth is STRs are an easy and important way for REALTORS® to help protect BC’s economy from money laundering. They also play a key role in helping law enforcement identify money launderers …
By Ellen Baragon, Guest Contributor The federal government has extended the Canada Emergency Commercial Rent Assistance (CECRA) for another month to help small businesses cover rental costs through August 2020. This follows a previous CECRA extension for the month of July. CECRA provides forgivable loans to qualifying commercial property owners to cover 50% of three …
BCREA’s new online Disclosures in Real Estate (DIRE) course can help you better understand the scope of your disclosure obligations.
With an announcement on July 20, the BC Government is giving landlords and tenants information to help them plan for the near future. The ban on residential evictions for non-payment of rent will be lifted before September 1, which means full rent will be due in September. Repayment plans The government has published a repayment …
By Ellen Baragon, Guest Contributor Even when REALTORS® adapt strict COVID-19 safety protocols (you can review BCREA’s guidelines here), hosting open houses increases the risk of exposure to COVID-19. Hosting open houses also results in another type of exposure for Realtors: exposure to public scrutiny. With British Columbians anxiously watching the latest transmission numbers, neighbours …
By Carlos MacDonald, Director of Land Titles, Land Title and Survey Authority of British Columbia If a property owner or buyer encounters a discriminating covenant in land title records, it can be a shocking surprise. Discriminating covenants are clauses that restrict the sale, ownership, occupation or use of land on the basis of sex, race, …
Over the past several months, we’ve been sharing stories about the many REALTORS® across BC who are supporting their communities through the COVID-19 pandemic. For now, this will be the last post in the COVID-19 Community Care series. “A huge thanks to our fantastic agents, to Trinity Church and to the people of Kelowna, West Kelowna …
After hearing from strata corporations, owners and other stakeholders – including REALTORS® – for several months, on June 23 the BC Government introduced legislative changes to help address the high costs of strata insurance. Strong advocacy work by BCREA and the real estate boards has resulted in BCREA being named as a contributor in the …
On June 24, the BC Government made it possible to evict residential tenants for reasons other than non-payment of rent. That means real estate transactions that require vacant possession can now proceed. Landlords with existing orders for eviction can take them to the courts beginning July 2, 2020, for enforcement and can enforce a writ …
Over the past several months, we’ve been sharing stories about the many Realtors across BC who are supporting their communities through the COVID-19 pandemic. “In true Dexter fashion, our winning agents chose to forego personal awards and gifts this year in favor of a donation on their behalf to the Resilience Without Barriers Fund. This fund …
Over the past several months, we’ve been sharing stories about the many Realtors across BC who are supporting their communities through the COVID-19 pandemic. “We chose to support our local Share Family & Community Services as they run the local food bank. COVID-19 has drastically impacted food bank donations and they need help to support those …
With Phase 2 of BC’s Restart Plan underway, REALTORS® may encounter concerns or criticism from consumers, especially online. In the latest episode of Open House by BCREA: Returning to Work and Risks to REALTOR® Reputation, Ari Indyk, VP Crisis and Risk at Edelman, provides advice on mitigating and responding to consumer concerns as we navigate …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “Sotheby’s International Realty Canada, Victoria office, is proud to support our community with our “5 Ways You Can Have a Positive Impact on Your Community in a Trying Time” campaign, posted boldly in …
By Ellen Baragon, Guest Contributor The federal government’s Regional Relief and Recovery Fund (RRRF) could assist brokers who, for various reasons, have not been able to take advantage of other programs such as the Canada Emergency Business Account (CEBA). The $1 billion fund was launched in May to support small to medium businesses struggling to recover …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “As of late, we have had a lot of emotions with all that has been going on in the world, and have been feeling helpless. After brainstorming about the ways in which we …
Recently the Canadian Real Estate Association (CREA) uploaded a Coronavirus Statement & Consent form to WEBForms® for REALTORS® to use with clients. In signing the form, clients state that they currently don’t have any COVID-19 symptoms and haven’t been in contact with anyone with symptoms. The person signing the form is also giving the brokerage …
By Ellen Baragon, Guest Contributor (This post was updated June 2 to include the government of BC’s new order preventing landlords who are eligible for CECRA from evicting tenants.) On Monday, June 1, BC’s Minister of Finance Carole James announced a new order under the Emergency Protection Act prohibiting commercial landlords who are eligible for …
This post, originally titled “Government Announcement on Renters and Landlords – What it Means for Realtors”, was updated on May 28, 2020 following the two-week extension of BC’s State of Emergency. On May 27, 2020, Premier John Horgan extended BC’s state of emergency until June 9, 2020. This means that the Residential Tenancy Order (RTO), …
By Ellen Baragon, Guest Contributor More changes have been made to the federal government’s Canada Emergency Business Account (CEBA) that makes the program more available to REALTORS®. The new provisions address some gaps that were evident when CEBA was first unveiled, which excluded some real estate business models. The latest amendments to CEBA make the program …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “Supporting the community is a core value at Team Randy Mann Homes. With a wealth of support from Realtors in our network – the bulk of which stems from our very own Stonehaus …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “We saw an opportunity to shift the focus and support our community during this critical time. Our agents are happy to see a portion of their office fees redirected to support this worthwhile …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “I enjoy the privilege of delivering chef-prepared meals to vulnerable members of our community.” During the COVID-19 pandemic, Michael Loewen, REALTOR® with Royal LePage Kelowna and member of the Okanagan Mainline Real Estate Board, …
Over the coming weeks, BCREA will share stories about the many REALTORS® across BC who are supporting their communities during the COVID-19 pandemic. “I chose to volunteer with Chilliwack Community Services because of all the wonderful programs they have in place that help so many people in this community and I just wanted to be …
As of May 1, 2020, British Columbians can apply here for the BC Emergency Benefit for Workers (BCEBW). The BCEBW is a one-time, tax-free $1,000 payment for British Columbians whose ability to work has been affected by the COVID-19 pandemic. If you are eligible for the Canada Emergency Response Benefit (CERB) you are likely eligible …
In April, BCREA launched our Managing Broker Community of Practice, a virtual community where managing brokers can connect, find important information, hear from guest speakers, and share best practices. The current focus of the Community of Practice is supporting managing brokers with information around the COVID-19 pandemic. Based on the needs of the community, the …
As REALTORS®, the hustle and bustle of your lives may have quieted due to the COVID-19 pandemic. However, it doesn’t mean you can’t keep busy during this time as you continue to practice social distancing and following government recommended guidelines. Whether you’re continuing to try and conduct business, or are simply looking for ways to …
During the COVID-19 pandemic, conducting live virtual tours can help real estate business to continue while keeping REALTORS® and clients safe. A live virtual tour, not to be confused with an open house, is a tour of a seller’s property, during which the seller, seller’s Realtor, buyer and buyer’s Realtor are all present using virtual …
Canada Revenue Agency (CRA) has launched an online calculator to help employers estimate the amount of wage subsidy they can expect if they apply for the Canada Emergency Wage Subsidy (CEWS). This calculator will help you to determine some specific line amounts that you will need to enter into the CEWS application form once it …
REALTORS® with Personal Real Estate Corporations who pay themselves dividends can apply for the Canada Emergency Relief Benefit (CERB), as long as they meet other eligibility criteria. On April 6, 2020, the federal government extended CERB eligibility criteria to include self-employed workers who pay themselves with dividends. According to the CERB government website, non-eligible dividends …
BCREA is diligently working to keep BC’s REALTORS® informed of the evolving real estate landscape during the COVID-19 pandemic. Preparing your clients for a real estate transaction during a pandemic means being able to explain to them not only how you’ve adapted your business and protocols to reflect the current conditions, but also how related …
By Gerald G. Clerx (Success Partner, Engage BRILLIANTLY Training Group) The current pandemic has created a lot of anxiety within the real estate community – it’s a stressful time for everyone. Buyers are uneasy about the future of their investment as well as their ability to qualify and make mortgage payments and sellers are concerned about …
By Anna Jones, CPA, CA (Partner, Church Pickard) The Canada Emergency Wage Subsidy (CEWS) and Temporary Wage Subsidy (read about them here) are just two financial aid programs available to managing brokers as small business owners. The Work-Sharing Program, Canada Emergency Business Account and recently announced Canada Emergency Commercial Rent Assistance programs can all help …
If you have a Personal Real Estate Corporation (PREC), navigating Canada’s COVID-19 aid programs can seem even more complicated. If you receive a T4 from your PREC and you meet the Canada Emergency Relief Benefit (CERB) income threshold requirement (read more here), you’ll want to calculate which is more beneficial, the CERB or the wage …
REALTORS®, like many other professionals who rely heavily on face-to-face interaction to conduct business, have quickly had to change the way they meet with colleagues and clients during the COVID-19 pandemic. While the change may be a lot for some, tools like Zoom have made meeting virtually easier than ever. But a significant increase in …
On April 15th, the Government of Canada broadened the Canada Emergency Response Benefit (CERB) criteria by allowing applicants to earn up to $1,000 in each four-week eligibility period. People who are eligible for Employment Insurance or sickness benefits or who have exhausted their Employment Insurance benefits between December 29, 2019 and October 3, 2020 are …
While there is still uncertainty about how CERB and CEWS applies to REALTORS®, the government continues to evolve the programs and BCREA continues to advocate on Realtors behalf.
As COVID-19 continues to impact the way REALTORS® conduct business, virtual showings and living-streaming of open houses have become useful tools for Realtors looking to replace traditional in-person viewings. In support of virtual practices, the Canadian Real Estate Association (CREA) has introduced a new feature on REALTOR.ca that allows Realtors to highlight live stream open …
A REALTOR® cannot be held liable for damages resulting from someone being or likely being infected with or exposed to COVID-19, whether directly or indirectly, as a result of the Realtor providing real estate agent services, according to an order issued by the Minister of Public Safety and Solicitor General on April 2. This order, …
This post was updated on April 3, 2020 to include additional information on remote witnessing of affidavits in support of land title applications. Even with the Land Title and Survey Authority’s (LTSA) notice temporarily allowing for affidavits for use in land title applications to be taken remotely (by video), there may still be other documents …
If you are a REALTOR® trying to understand whether you should apply for the Canada Emergency Response Benefit (CERB) (due to launch April 6) or the Canada Emergency Wage Subsidy (CEWS) (launch details unavailable) there are two questions to ask yourself: Are you self-employed? Have you incorporated as Personal Real Estate Corporations (PREC) and receive …
In order to apply for the new Canada Emergency Response Benefit (CERB), expected to launch April 6, you must first have an online account with Canada Revenue Agency (CRA), called CRA My Account. The British Columbia Real Estate Association (BCREA) recommends that all REALTORS® who intend to apply for CERB and who do not yet …
REALTORS® are being challenged to meet obligations to clients who they entered into a business relationship with before social distancing orders came into effect and to meet the needs of new clients who may need to buy or sell despite the pandemic. This means they’re often caught in the crossfire of client expectations and civic …
More than 8500 applications processed this week While Land Title and Survey Authority of British Columbia (LTSA) has introduced social distancing measures in their offices, such as restricting access to staff, direct access pass-holders and Registry Agents, it’s keeping up with customer demand and expects to remain open for business. In a statement posted on …
The COVID-19 virus is impacting more than people’s health. It’s changing our travel plans, how we do business and the larger economy. REALTORS® also need to adjust to protect themselves and their clients. The National Association of REALTORS® (NAR) has put together this great resource – we’ve listed some key Q&As below. What’s the most …
Whether it’s home insurance for homeowners, life insurance for families, or business insurance for business owners, insurance is a big part of life. Former international soccer star David Beckham reportedly had his legs insured for 195 million dollars. And it makes sense – if you’ve got something you value, you protect it. But Beckham’s protection …
Lead generation is an important part of a REALTOR®‘s work but there are some risks too, especially when it comes to telemarketing. REALTORS® and brokerages need to understand their role in protecting consumer privacy before picking up the phone – and it starts with the national Do-Not-Call List. What’s the national Do-Not-Call List? The Canadian …
2020 has already gotten off to an eventful start for REALTORS® – the new Professional Development Program framework came into effect on January 1 and the Real Estate Council of BC announced it has developed a new mandatory anti-money laundering course for all real estate licensees. Here at BCREA, we’re rolling up our sleeves and …
Droughts, water restrictions and wildfires have all become part of a typical BC summer, just like Okanagan cherries or a BC Day barbecue. Despite all of BC’s lakes and rivers, the truth is that water scarcity is a serious concern. That’s why the provincial government introduced the Water Sustainability Act in 2016, which requires anyone diverting and …
How to secure coverage during wildfire season Most buyers won’t realize there’s a difference between an insurance company giving them a quote for an insurance policy and an insurance company binding an insurance policy. But as a REALTOR®, you certainly should. When an insurance provider “binds” an insurance policy it means they’ve issued the policy …
The British Columbia Real Estate Association acknowledges that our head office is located on the unceded traditional territories of the Coast Salish Nations of Sḵwx̱wú7mesh (Squamish), səl̓ilwətaɁɬ (Tsleil-Waututh), and xwməθkwəy̓əm (Musqueam). We also acknowledge the other 195 First Nations in British Columbia, as these are the lands we each call home.
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